Progressive News

Viewpoint: How Progressive’s Relationship with ‘The Robinsons’ Could Be at Risk

Progressive offered a rare look inside their strategic playbook in a recent second quarter earnings report. Describing the firm’s market share in key customer segments, the report highlighted one group as its most significant growth opportunity. They are called the …

Personal Auto Results Slow to Recover; GEICO, Progressive to Pass State Farm

With an overall combined ratio in excess of 100 for the first time since 2017, private passenger auto joined homeowners in unprofitable territory last year, prompting carriers to respond with pricing and underwriting actions. But improvement in the auto line …

Analysis: State Farm Wins Again With Better J.D. Power Scores Than GEICO

When Warren Buffett told Berkshire Hathaway investors that State Farm continues to dominate the large auto insurance carrier landscape during this year’s annual meeting, he was referring to scale rather than customer satisfaction scores. But State Farm wins on that …

Progressive Corp. Records June, Q2 Loss

Progressive Corp. said Friday it recorded a loss of about $543 million for the second quarter 2022 and a loss of $436.7 million in June. Pretax loss on securities in Q2 were about $1.18 billion – $564 million in June. …

Washington Man Wanted for Auto Insurance Fraud

Vincent Labarbera, of Vancouver, Wash., has been added to Insurance Commissioner Mike Kreidler’s most wanted after he failed to appear in Clark County Superior Court to face felony charges of filing a false insurance claim and attempted first degree theft. …

State Farm Still Wins: Buffett Talks Auto Insurance at Annual Event

There wasn’t a lot of talk about auto insurance at this year’s annual meeting of Berkshire Hathaway, but when the subject came up, Warren Buffett acknowledged the continued dominance of one competitor—a mutual insurer. “The largest auto insurance company in …

Arizona Auto Insurance Rates Rising on Heels of COVID

As if spiraling gas prices weren’t enough, motorists across Arizona and the nation are paying more for auto insurance as repair costs and more crowded roads push premium rates higher. After giving customers premium credits and refunds in 2020 as …

J.D. Power Agents’ Survey Reveals Top-Ranked P/C Carriers (Story in Charts)

Neglected no more. Independent agents are feeling the love from property/casualty insurance carriers—and the scores they are giving carriers are moving higher, J.D. Power reports. According to results of the J.D. Power 2021 U.S. Independent Agent Performance and Satisfaction Study, …

Progressive Insurance Hurt by Rise in Auto Claims, Low Premiums in Q2

Progressive Corp. reported a 56% decrease in net income to $790.1 million for the second quarter. Net income was down 9% for the first six months. The company said the largest contributor to the year-over-year decreases was the reduction of …

Progressive Insurance Marketing Chief Charney to Retire in 2022

Progressive Insurance reported that Jeff Charney will retire as chief marketing officer, a position he has held since 2010. Charney’s expected retirement date is January 2022. The company said the early announcement of Charney’s retirement was made to allow for …